INSURANCE NEWS
No Damage, Injuries From M4.2 Northern California Earthquake
A 4.2-magnitude earthquake rattled Northern California on Christmas Eve in the same county where a large quake days earlier killed two people and left widespread damage, authorities said. The quake struck at 11:33 a.m. Saturday and was centered about 5 …
New Work-Related Laws Taking Effect in Washington
There are several significant changes coming Jan. 1 to Washington that impact workers around the state. The Washington State Department of Labor & Industries complied a list of changes to ensure all workers and employers are aware of the changes …
FTX Customers File Class Action to Lay Claim to Dwindling Assets
FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company’s holdings of digital assets belong to customers. The lawsuit is the latest …
London Law Firms Face Reckoning in 2023 After Big Salary Hikes This Year
London’s biggest law firms paid generously to secure the brightest young recruits they could this year. Meeting those salary pledges next year will be a lot tougher with revenues from deal making expected to slow dramatically. Many of the UK’s …
Overseas Companies Welcome China’s Decision to End Quarantines for Visitors
Companies welcomed China’s decision to end quarantines for travelers from abroad as an important step to revive slumping business activity while Japan on Tuesday announced restrictions on visitors from the country as infections surge. The ruling Communist Party’s abrupt decision …
North Korea Hackers Stole $1.2B in Virtual Assets Over 5 Years: South Korea Spy Agency
North Korean hackers have stolen an estimated 1.5 trillion won ($1.2 billion) in cryptocurrency and other virtual assets in the past five years, more than half of it this year alone, South Korea’s spy agency said Thursday. Experts and officials …
Insurer Finds Connecticut Public Buildings Free From Foundation Problems of Homes
A review of concrete foundations of public buildings in northeastern Connecticut, including schools and fire stations, has found no widespread deterioration problems like what’s plagued hundreds of residential homeowners. Out of 100 structures surveyed, only a handful showed signs of …
Death Count Rises as Buffalo Digs Out From ‘Worst Storm’ in Lifetime
BUFFALO, N.Y. (AP) — Buffalo residents hovered around space heaters, hunted for cars buried in snow drifts and looked for more victims Monday, aftermore than 28 people died in one of the worst weather-related disasters ever to hit western New …
Putin Bans Russian Oil Exports to Countries Implementing Sanctions-Related Price Cap
President Vladimir Putin on Tuesday delivered Russia’s long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that abide by the cap. …
Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit
Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance …
The SEC’s Crypto Crackdown Is Just Getting Started After FTX Blowup
The US Securities and Exchange Commission is just getting started with its crackdown on crypto firms that refuse to abide by its rules. SEC Chair Gary Gensler said in an interview on Thursday (Dec. 22) that the agency’s patience is …
Southwest Cancels Thousands More Flights; U.S. Government Vows Scrutiny
Southwest Airlines Co. on Dec. 27 came under fire from the U.S. government after the low-cost carrier kept canceling flights due to harsh winter weather that grounded planes and disrupted holiday travel. U.S. airlines have canceled thousands of flights as …